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Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1994]209ITR572(Cal)

gain after it had been computed in accordance with Chpater II of Part II of the 1979 Act, including the time apportionment provisions of Para … to capital gains tax for the year 1986-87 on the basis that the indexation allowance introduced by the Finance Act, 1982 was to be deducted from the whole of the amount of the gain accruing to the taxpayer … be computed by applying the time-apportionment provisions of paragraph 11 of Schedule 5 to the Capital Gains Tax Act, 1979, to the gain accruing between her acquisition and disposal of the assets and the allowance deducted from that … (a) the cost of acquisition, in this case deemed to be pound 250; (b) the amount spent on improving the asset or defending the owners

South Indian Bank Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1985; Income Tax Act, 1961 - Sections 36, 36(1) and 36(2)

Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)

bad and doubtful debts account. Clause (viia) which was inserted with effect from April 1, 1980, by the Finance Act, 1979, provided for a deduction in respect of any provision for bad and doubtful debts made by a scheduled … to in Section 28-- ...(vii) subject to the provisions of Sub-section (2), the amount of any debt, or part thereof, which is established to have become a bad debt in the previous year ;(viia) in respect of

South Indian Bank Ltd. Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]130TAXMAN749(Ker)

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1-4-1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … in section 28** ** **(vii) subject to the provisions of sub-section (2), the amount of any debt, or part thereof which is established to have become a bad debt in the previous year;(viia) in respect of any

Dhanalakshmi Bank Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : 2003(3)KLT177

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1.4.1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … to in Section 28- (vii) subject to the provisions of Sub-section (2), the amount of any debt, or part thereof, which is established to have become a bad debt in the previous year; (viia) in respect of

Mithila Properties, Publication Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Patna

Subject : Land Acquisition

Reported in : (1997)63ITD113(Pat.)

Wealth-tax (A/c) in first appeal that the assessee is liable to wealth-tax as per section 40(3)(vi) of the Finance Act, 1983 in respect of the value of the immovable property which are godowns let out to Food Corporation … to 1986-87. The assessee owns godowns which have been let out to FCI and TDC since the year 1979-80. The rental income from such godowns is being assessed by the revenue authorities as income from house property … Minister published in 140 ITR 32 (St.) and 194 ITR 21 (St.) particularly para 67 relied upon by the assessee's counsel in support of assessee's … before the Hon'ble Patna High Court by way of reference under section 27 of the Wealth-tax Act, 1957. The assessee-company did not file any returns

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

Subject : Land Acquisition

The judgment in Surat Art Silk .................................................................................................................. 11 D. Relevant changes brought about to the IT Act, 1961 (Finance Act, 1983 and 1991) ............................... 17 E. The judgment in Thanthi Trust .................................................................................................................. 18 F. Deletion of certain exemptions: … (15) by Finance Act, 2008 (w.e.f. 01.04.2009) ................................................ 21 II. Submissions of parties ................................................................................................................................. 22 A. Arguments on behalf of the revenue.......................................................................................................... 22 B. Arguments … C.A. No._____/2022 @ SLP (C) No._____/2022 @ Diary No(s). 5683/2019; C.A. No._____/2022 2 @ SLP (C) No._____/2022 @ Diary No(s). 15488/2019; C.A. No._____/2022 @ SLP … claimed by the trust. The revenue appealed. This court noticed that the appeals covered three distinct periods- (i) 1979-80 to 1983-84, (ii) 1984-85 to 1991-92, and (ii) 1992-93 to 1996-97. This court held that for the first

Gujarat Narmada Valley Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (1982)2ITD515(Ahd.)

instead of 20 per cent prescribed in Section 2(b)(iii)(B)(1) of Part II of the First Schedule to the Finance Act, 1979. The Commissioner also erred in upholding the enhanced rate. As a matter of fact, on account of the

Commissioner of Income-tax Vs. M. Balasubramanian

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1979; Finance Rules - Rules 5 and 7

Reported in : [2000]246ITR796(Mad)

court :'Whether having regard to Rules 5 and 7 in Part IV of the First Schedule to the Finance Act, 1979, the assessee's share of loss from a firm should be taken into account and given set off while … the Revenue, the Appellate Tribunal has stated the case and referred the following question of law under Section 256(1) of the Income-tax Act, 1961, for the opinion of this court :'Whether having regard to Rules 5 and

Sedco Forex International Drill. Inc. and ors. Vs. Commissioner of Inc ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4(1), 5(2), 9, 9(1) and 119; ;Finance Act, 1999 - Sections 9(1); ;Finance Act, 1983

Reported in : AIR2006SC428; (2005)199CTR(SC)320; [2005]279ITR310(SC); JT2005(5)SC639; (2005)12SCC717

It was further submitted that the amendment to the Explanation to Section 9(1)(ii) was brought about by the Finance Act 1999 and was retrospective since it was clarificatory. It was also stated that the issue whether a statute … the relevant time. The mere fact that the assessments in question has(sic) somehow remained pending on April 1, 1979, cannot be cogent reason to make the Explanation applicable to the cases of the present assessees. This fortuitous … the offshore drilling work on any project of the appellant in any part of the world. The agreements further provided that such assignments would be … schedule of work as specified in the agreements envisaged 35 days or 28 days work in a foreign location (in this case India) followed by

Singapore Airlines Ltd. Vs. Union of India (Uoi) and anr.

Court : Delhi

Subject : Customs

Acts : Customs Act, 1962 - Sections 129DD; Finance Act, 1979 - Sections 35(2), 35A(1) and 38(3); Finance Act, 1997 - Sections 38; Foreign Travel Tax Rules, 1979 - Rules 4, 9 and 10A

Reported in : 2004(73)DRJ168; 2004(94)ECC332; 2004(175)ELT89(Del)

imposing a penalty of Rs.2,07,840/- under Section 35A(1) {clarified in the impugned order as Section 38(3)} of the Finance Act, 1979 (as amended){for short the Act} read with Rule 4 of the Foreign Travel Tax Rules, 1979 (as amended), … the reversionary authority has dismissed the petition. Hence the present petition.3. We have heard learned counsel for the parties.4. Assailing the orders passed by the lower authorities, Mr. Wadhwani, learned counsel for the petitioner, would submit that